-
The United Arab Emirates (UAE) has been recognized as a global business hub, attracting a wide range of multinational corporations and investors. To maintain its reputation and foster transparency, the UAE introduced the Economic Substance Regulations (ESR) in 2019. The ESR aims to prevent companies from engaging in profit shifting and ensure that they conduct…
-
Transfer pricing is a critical aspect of international taxation, and intangible assets play a significant role in the global economy. With intangibles accounting for a substantial portion of a multinational enterprise’s (MNE) value, the proper application of transfer pricing rules is essential to ensure a fair allocation of profits among different jurisdictions. The OECD guidelines…
-
Before accepting new clients, it is crucial for companies to conduct thorough Know Your Customer (KYC) procedures to ensure adherence to Anti-Money Laundering and Combatting the Financing of Terrorism (AML-CFT) regulations. Businesses must have impeccable KYC processes in place to evaluate and reduce risk. Weak KYC protocols can result in increased risk of enabling Money…
-
The United Arab Emirates (UAE) has long been recognized as a global business hub, attracting entrepreneurs and enterprises from around the world. With its strategic location, pro-business policies, and a flourishing economy, the UAE is the ideal destination for expanding your company’s operations. This blog will delve into the benefits of opening a foreign branch…
-
In the realm of intellectual property (IP), the UAE has established a comprehensive framework to safeguard the ingenuity of its entrepreneurs and businesses. The world of patents and trademarks, however, can be a complex labyrinth, especially for those unfamiliar with the intricacies of the UAE’s regulatory landscape. This blog post aims to serve as an…
-
The new regime enables families to manage their businesses and preserve wealth through succession and legacy planning within DIFC. The regulations also establish certification and accreditation programmes for family businesses and their advisors in DIFC to support benefits and incentives planned for family businesses in the UAE. The certification regime aims to promote good conduct…
-
Designated Non-finance Businesses and Professions (DNFBPs) are required to comply with the UAE’s Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) laws. Non-compliance can lead to penalties from the Ministry of Economy (MoE), which conducts inspections to ensure AML-CFT compliance. To avoid penalties, DNFBPs must prepare for these inspections with a rigorous approach. In…
-
Anti-money laundering (AML) training programs for employees are mandatory for financial institutions (FIs) and designated non-finance businesses and professions (DNFBPs) in the UAE, such as real estate agents, auditors, dealers of precious metals and stones, and trust and corporate service providers. Failure to provide AML training may result in compliance failure, attracting hefty penalties. In…
-
Value Added Tax (VAT) was introduced in the United Arab Emirates (UAE) in 2018 as a way of diversifying the country’s revenue streams. VAT compliance is crucial for businesses operating in the UAE, as non-compliance can result in hefty penalties and legal action. Here are five tips for effective VAT compliance in the UAE: Register…
-
As one of the world’s largest trading hubs, the United Arab Emirates (UAE) has established itself as a key player in the global economy. With a growing number of multinational corporations operating within its borders, the country has become increasingly focused on ensuring that businesses operating within its jurisdiction comply with international tax laws, including…
Unlocking Business Success: Lemon Consultech Blog
Stay up-to-date with Lemon Consultech’s blog – your ultimate guide to business consulting, entrepreneurship, and starting a business in Dubai
Unlocking Business Success: Lemon Consultech Blog
